Central Petroleum Limited Stock Market Press Releases and Company Profile
Market Speculation
Market Speculation

Brisbane, Oct 22, 2014 AEST (ABN Newswire) - There has been significant market speculation circulating in social media about Central Petroleum Ltd (googlechartASX:CTP) and the Company is concerned this may be creating a false market. This includes assertions about the shareholdings of directors and management.

The facts are that the Chairman (Andrew Whittle), the Managing Director (Richard Cottee), the Chairman of the Remuneration Committee (Rob Hubbard) and Director and Chief Operating Officer (Mike Herrington) have bought shares in the last two weeks and the appropriate Appendices 3Y have been lodged.

Amongst the Senior Executives, The Chief Financial Officer (Leon Devaney) and the GM Exploration (Mike Bucknill) and the Company Secretary (Joseph Morfea) have also bought Central Petroleum stock. No Director, nor any Company associated with a Director, including Magellan, has sold any stock.

The Company stands poised to take advantage of a higher priced and higher liquidity gas market through the proposed Northern Territory pipeline and these recent purchases are testimony to the faith the directors and management have in the future of Central.

About Central Petroleum Limited

Central Petroleum LimitedCentral Petroleum Limited (ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.

Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.

We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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